South Africans now Have Access to Luxury Properties in Portugal
The launch of real estate development company Reward Properties by RE Capital and Neworld, has given South Africans preferential access to overseas investments. John Rabie, the founder and president of Neworld, and one of South Africa’s best-known developers, recently launched Reward Properties in partnership with Private Wealth Global. According to Rabie the reason why Portugal is attractive for investors is based five main factors, “it’s a remarkably beautiful country, and having recently undergone a major infrastructure upgrade, our investors have access to extremely favourable interest rates, as well as rental guarantees and attractive purchase prices.”
Partner company, Private Wealth Global has also been quick to act on this opportunity to give investors options to in-demand real estate in Europe. Scott Picken, chief executive officer of The Global Wealth Group, shares his thoughts on the new joint venture, “For the first time, investors don’t have to be at the end of the value chain, and you can actually partner directly with John Rabie in his next development in Portugal.”
This collaboration is enticing for many reasons, along with the right combination of expertise, experience and skills, investors can feel confident in adding this investment to their portfolio. Newman Leech, co-founder and CEO of RE Capital confirms, “Our goal is to create a brand that promotes sustained investor confidence and simplifies our go-to-market strategy. By creating Reward Properties, we were able to complement our best features.” Rabie agrees that the success of the joint venture lies in the combined offering both companies bring to the table, as well as the shared resources and access to markets, making it an undeniable value-add, especially for investors looking to invest in international real estate for the first time.
RE Capital and Neworld have previous success working as a team in 2019, when they developed residential and mixed-use projects in Lisbon, with global wealth management company Skybound Capital acting as the main financier and will again be the main financier for this next collaboration. LxLiving, a €90-million project of 150 mixed-use units in the highly sought-after Amoreiras was the partnership’s first project. Reward Properties has two other developments in Portugal to its name, the fashion district of Marvila in Lisbon, has 300 apartments that will be built during the next four years. The other development is set in the Algarve, at the luxurious Triângulo Dourado featuring 43 villas.
Creating value for investors, the development worth of Reward’s portfolio is approximately €300-million, and every location is assessed to ensure it meets a strict list of criteria before it is included as an investment option. Interested investors will receive a comprehensive overview of the promoters’ expertise, potential investments and quality of the developments.
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